Johannesburg, 16 Mar 2016
Even our language is being shaped by the rapid growth of IT, with new words and phrases regularly entering the lexicon. One relatively new phrase created to describe a relatively new phenomenon, a world full of inter-connected devices, is 'the Internet of things' (IOT).
We are only just beginning to realise the potential this new phenomenon can unlock, such as the benefits afforded to businesses now able to exchange information at light-speed, says Gavin Dunlop, CEO of ACTNET.
The term 'Internet of things' was coined in 1999 by British technology pioneer Kevin Ashton, and is defined as the network of physical objects or 'things', electronic devices that have connectivity and exchange data with other devices. These objects are uniquely identifiable and utilise existing network infrastructure. Examples can include remote sensors, surveillance cameras, even heart monitoring implants, not just smart devices but anything collecting and transferring data. These devices essentially connect the Internet to the physical world and pave the way for automation in a massive variety of fields.
The IOT recently made news headlines where many were exposed to the phrase for the first time. It was widely reported that experts estimate that the IOT will consist of 50 billion objects by 2020. According to technology market intelligence company ABI Research, the number of wireless connected devices exceeded 16 billion in 2014, a 20% increase on 2013, and is expected to grow by a further 75% before the end of the decade. With growth this exponential, it's no surprise that the media has begun to latch onto the term.
A very important driving force behind this surge is the affordability of the devices themselves, coupled with ever more capability. The cost of wireless technology as well as sensors, processors and the like has come down dramatically. Also playing an important role is the fact that consumers themselves have become more familiar with the technology, with WiFi now a standard fixture in most homes in the developed world. As consumers get comfortable with it and learn its potential, they become increasingly reliant on it in their daily lives.
So, it must be asked, just what are we gaining from this accelerating inter-connectivity? With information moving at greater speeds and processed in increasingly efficient ways, our world is now better informed than ever before. There is certainly an opportunity for businesses to capitalise on it. No matter the industry, a company that adopts and utilises technological innovation will almost certainly have an advantage over one that doesn't. In the long run, it will usually make the difference between a growing company and an insolvent one.
One way every business can use the IOT to improve efficiency is through Electronic Document Delivery (EDD), a digital solution which enables the user to send any documents (ie, payslips, invoices, statements, and contracts) electronically. It's instantaneous and documents can be delivered straight to the recipient's mobile device. This not only increases the speed at which such tasks can be performed, there are security benefits too. Detailed delivery audit trails are kept and encrypted electronic documents are virtually impossible to intercept, unlike the regular postal service.
This kind of innovation demonstrates the way in which interconnectivity is transforming our world. Embracing new technologies and concepts can catapult a company ahead of its more reluctant competitors. Rather than seeing it as a tsunami, businesses and individuals alike must look for the opportunities in a period of such radical change.
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